Oil Price Today (August 19): Crude oil nears $92/barrel as Trump claims US in no talks with Iran. What lies ahead?

Crude oil prices edged closer to $92 a barrel on August 19 as escalating Middle East tensions and diplomatic stalemates between the US and Iran stoked global supply worries. Analysts at Goldman Sachs and JPMorgan warn Brent could spike past $110 if Strait of Hormuz shipping disruptions persist.